Tourism sector worried as stocks fall on protests

TAIPEI -- Stocks in the local tourism industry plummeted more than 1.5 percent in Monday morning trading as protests against the cross-strait services trade pact continued, with one major tourism operator lamenting the protests could affect its plans for investing in China.

Liao Wen-cheng, general manager of Phoenix Tours Co., said his company will likely be unable to implement its plans for expansion and investment in the China market over the course of this year because of the protesters, who have occupied the Legislature since Tuesday evening to oppose the pact.

He said the industry supports the pact and considers it beneficial, and he believes it can still be passed through the Legislature pending “more communication and wisdom.”

The protest, which spilled over to the Executive Yuan late Sunday before demonstrators were dispersed from the compound early Monday morning, is unlikely to have any impact on the local tourism industry, Liao said.